Murdochs End Succession Battle as Lachlan Secures Control of Media Empire

A years-long power struggle within Rupert Murdoch’s media empire has concluded, with his son Lachlan Murdoch set to take sole control of Fox News, The Wall Street Journal, The New York Post, and other outlets.

The family announced on Monday that Lachlan will oversee a new trust controlling the businesses, while his older siblings—Prudence MacLeod, Elisabeth Murdoch, and James Murdoch—will step away from any influence over Fox and News Corp.

Under the deal, the three siblings will sell their combined holdings of more than 30 million shares, worth around $1.1 billion (£810m) each. The arrangement also ends ongoing litigation over the family trust, which had been mired in disputes and legal battles in Nevada.

The outcome cements Lachlan, 52, as the conservative-leaning heir to Rupert’s empire. James, Elisabeth, and Prudence—who are more politically moderate—will instead become beneficiaries of a new cash-based trust.

Analysts say the deal is a victory for Rupert Murdoch, though an “expensive” one, as it eliminates the risk that his more liberal children could outvote Lachlan after his death.

Lachlan has already been running the companies since Rupert, 94, stepped back in September 2023, though the elder Murdoch remains chairman emeritus.

James Murdoch in particular has publicly broken with the family business in recent years, citing disagreements over climate change coverage and Fox News’s amplification of Donald Trump’s false claims about the 2020 US election.

Rupert’s younger daughters from his marriage to Wendi Deng, Chloe and Grace, are also beneficiaries of the new family trust.

The resolution brings to a close a saga that inspired the hit television drama Succession. But observers note that while the empire is now secure under Lachlan’s leadership, the deal has come at the cost of deep family divisions.